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News Release

FOR IMMEDIATE RELEASE
October 29, 2004

Eisai Reacquires Worldwide Rights for a Triazole-Type Anti-Fungal Agent

Eisai Co., Ltd. (Headquarters: Tokyo, President: Haruo Naito) announced a termination of the licensing agreement of the triazole-type anti-fungal agent (generic name: ravuconazole) with Bristol-Myers Squibb (Headquarters: New York, Chairman and CEO: Peter R. Dolan). Eisai will now proceed with an independent development program for ravuconazole mainly in the U.S.

Ravuconazole is a broad-spectrum antifungal triazole originally discovered by Eisai for treatment of systemic fungal infections such as candidiasis, aspergillosis and cryptococcal meningitis. Eisai and Bristol-Myers Squibb signed a licensing agreement for ravuconazole in December 1996. And Bristol-Myers Squibb has conducted clinical development of ravuconazole.

Based on the agreement signed this month, Eisai will reacquire the worldwide manufacturing, development and marketing rights of ravuconazole.
Ravuconazole is currently in Phase II clinical development. Preliminary data suggest that ravuconazole shows clear advantages over currently used triazoles. Ravuconazole shows a promising advance in antifungals for the treatment of immunocompromised patients such as those with HIV infection, or cancer, and organ transplant patients, who are at risk for developing serious fungal infections.
Opportunistic infection by fungi is a serious problem in late-stage cancer patients. Therefore, Eisai expects ravuconazole will complement our existing cancer compound pipeline, including E7070 and E7389. The Company will develop ravuconazole so that it will be one of the critical care drugs in the U.S.

Contacts:

Eisai Co., Ltd.
Corporate Communications Department
Phone 03-3817-5120 (Tokyo)